Category: nzpnorlrbmaj

Deutsche Bank posts third quarter loss

first_img Deutsche Bank posts third quarter loss Deutsche Bank posted a third-quarter loss, weighed down by an expected 2.3bn euro (£2bn) charge on Deutsche Postbank, and stuck with a cautious outlook for 2011.By 2011, Germany’s flagship lender aims to achieve 10bn euros pre-tax profit at group level.“While some of the environmental variables are in line with or ahead of our assumptions, others have not yet reached the expected levels, particularly with respect to the normalization of interest rates,” the bank said.Although Deutsche Bank had warned in September that it would post a quarterly loss due to weaker sales and trading activity in July and August, it said there had been a “strong rebound” in September.Revenues in corporate banking and securities – the cash cow of Deutsche Bank’s investment bank – eased to 4.2bn euros in the third quarter from 4.4bn in the year-earlier period.It still accounted for the lion’s share of the group’s overall revenues of 5bn euros. Without the Postbank charge, Deutsche Bank’s revenues were 7.3bn euros. Tags: NULL whatsapp Show Comments ▼ John Dunne center_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCutethedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Herald Share whatsapp Wednesday 27 October 2010 2:59 am Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wraplast_img read more

FTSE 100 shares Lloyds Bank, Rolls-Royce and IAG are in high demand. Should I buy too?

first_img Based on investment platform Hargreaves Lansdown‘s most popular buy list, engine-maker Rolls-Royce (LSE: RR), airline group IAG (LSE: IAG) and Lloyds Bank (LSE: LLOY) shares are in big demand. As someone looking to grow my wealth, am I missing a trick by not investing in these battered FTSE 100 stocks? Here’s my take.FTSE 100 value stock?Lloyds Bank was the third most bought stock last week, suggesting investors are finally becoming bullish on the company. There’s certainly some positive momentum in the price. In the last month, Lloyds shares are up 32%!5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Value hunters would no doubt argue that the shares still look cheap, especially if analyst estimates on earnings bouncing by almost 150% next year prove accurate. Right now, Lloyds trades on a forecast P/E of 11.Personally, I think this remains a risky pick. For one, there’s still a possibility that the government will be unable to strike an agreement with the EU. A no-deal Brexit could mean further pain for the British economy that’s already under severe pressure due to the coronavirus pandemic.That’s seriously problematic for a company like Lloyds, given its dependence on grabbing business from UK customers. Factor in the risk of historically-low interest rates going even lower and it’s quite possible the recent recovery will prove temporary.The banking sector may prove a bargain if none of the above comes to pass. But that’s not a gamble I’m prepared to take. Patience requiredOccupying second spot on the most popular UK buy list was Rolls-Royce. The FTSE 100 member has been a trader’s dream over recent months. After tumbling from 136p in July to just 39p in October, the shares have now recovered to change hands for 108p. But what happens next? Clearly, the next few months will be pivotal. From an optimistic perspective, an end to travel restrictions in the West could see a huge rebound in earnings.The problem with this scenario is that the latter will now be spread more thinly due to more Rolls shares being created following its £2bn rights issue. It also assumes travellers will rush back to the airports and business meetings via Zoom are ditched.Investors content to stick around for years could make a lot of money on Rolls-Royce’s recovery. My concern is the opportunity cost of not getting involved in other highly promising stocks and trends in the meantime. Risky businessTop of last week’s buy list was British Airways-owner International Consolidated Airlines. Like Rolls-Royce, it’s easy to see why. Buoyed by the vaccine news, the deeply indebted FTSE 100 airline’s share price has rocketed 77% in one month. I don’t doubt IAG has the potential to make investors even more money from here. Even so, I don’t expect a smooth ride. Assuming they receive regulatory approval, getting the vaccines distributed is unlikely to be as simple as some believe it will be.Whether IAG is a buy or not depends on each investor’s tolerance for risk. Like star fund manager Terry Smith, my strategy is to look for high-quality businesses with competitive advantages that can be held for years. Note that I haven’t mentioned anything about galloping share prices. You pays your money, you takes your choice. IAG is not a business I want to own. Paul Summers has no position in any of the shares mentioned. The Motley Fool UK has recommended Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Click here to get access to our presentation, and learn how to get the name of this ‘double agent’! Enter Your Email Address Paul Summers | Monday, 30th November, 2020 | More on: IAG LLOY RR FTSE 100 shares Lloyds Bank, Rolls-Royce and IAG are in high demand. Should I buy too? Image source: Getty Images center_img Don’t miss our special stock presentation.It contains details of a UK-listed company our Motley Fool UK analysts are extremely enthusiastic about.They think it’s offering an incredible opportunity to grow your wealth over the long term – at its current price – regardless of what happens in the wider market.That’s why they’re referring to it as the FTSE’s ‘double agent’.Because they believe it’s working both with the market… And against it.To find out why we think you should add it to your portfolio today… There’s a ‘double agent’ hiding in the FTSE… we recommend you buy it! Our 6 ‘Best Buys Now’ Shares Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Simply click below to discover how you can take advantage of this. See all posts by Paul Summerslast_img read more

The Chimney House / Onix

first_imgArchDaily ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/131663/the-chimney-house-onix Clipboard Houses The Chimney House / Onix CopyHouses•Bosschenhoofd, The Netherlands The Chimney House / OnixSave this projectSaveThe Chimney House / Onix Save this picture!Courtesy of onix+ 14 Share CopyAbout this officeOnixOfficeFollowProductsWoodGlass#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesWoodHousesBosschenhoofdThe NetherlandsPublished on April 29, 2011Cite: “The Chimney House / Onix” 29 Apr 2011. ArchDaily. Accessed 12 Jun 2021. ISSN 0719-8884Read commentsBrowse the CatalogPanels / Prefabricated AssembliesTechnowoodPanel Façade SystemCompositesMitrexPhotovoltaic Solar Cladding – BIPV CladdingMetal PanelsAurubisMill Finished Copper: Nordic StandardDoorsRaynorThermal Sectional Doors – FlexFamily™SinksBradley Corporation USASinks with WashBar Technology – Verge LVQ SeriesExterior DeckingLunawoodThermowood DeckingStonesCosentinoNon-slip Treatment – Dekton® Grip +Metal PanelsSherwin-Williams Coil CoatingsValflon® Coating in Edmonton Public LibraryWallcovering / CladdingLinvisibileLinvisibile Boiserie and Skirting Systems | OrizzonteMineral / Organic PaintsKEIMMineral Paint in Beethoven HausWall / Ceiling LightsEureka LightingCeiling Recessed Lights – OutlineFurnitureFrapontWood Furniture and EquipmentMore products »Read commentsSave想阅读文章的中文版本吗?烟囱房子 / Onix是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Projects The Netherlandscenter_img Area:  600 m² Year Completion year of this architecture project Year:  2009 Architects: Onix Area Area of this architecture project Text description provided by the architects. The Chimney House in Bosschenhoofd has a simple main volume with a rectangular floor plan and a saddleback roof. The plan is based on the fact that the chimney is a disappearing feature in architecture of this century. This tempted us to create a house with several chimneys. The chimney has been used in different sizes and shapes and with different functions.Save this picture!Courtesy of onixRecommended ProductsWoodGustafsWood Veneered Wall & Ceiling PanelsWoodStructureCraftEngineering – Architectural & FreeformEnclosures / Double Skin FacadesIsland Exterior FabricatorsCurtain Wall Facade SystemsWoodEGGERLaminatesIn conjunction with the other premises on these grounds, the new house has a strategic position within the domain. The layout defines intimate spaces with varied identities. Of the existing buildings, only the old house remains intact, to be used as a studio. The walls of the existing sheds will be dismantled so that only the roof remains, supported by columns. These roofs will be used as a carport and as a storage area for wood for the hearth. Save this picture!Courtesy of onixThe grounds are wedged between a wooded parcel to the south and agricultural land to the north. The wooded parcel provides some soundproofing against the motorway in the vicinity, but also creates shadow. The house is optimally oriented to the surroundings. The main contour seems to harmonize with an environment that accommodates mainly saddleback-roofed houses and sheds. On the ground floor, the volume with the transverse roof appears to balance on two short legs. Between these two short legs, which contain the technical areas, the storage area and the entrance, there is a transparent interior oriented to the exterior, although it also maintains a relationship with the more introverted upper reaches by means of a void. Save this picture!Courtesy of onixThe frame on the ground floor is formed by a row of balusters that interacts with the sprouting stems of the beech hedge. A splendid three-dimensional effect arises when viewing the surroundings from this vantage point. A large terrace adjoins the house just beyond the wood-shaded area on the west side. The first floor has a more secluded character in order to resist the warmth from outside. The bedrooms and other spaces have a window bordering on an alcove. Only the main bedroom has a large window on the north side. Save this picture!Courtesy of onixThe simple saddleback roof volume blends with the four chimneys on the roof. The chimneys are used as channels for the hearth, but also allow light and space to the interior. Save this picture!PlanThe plank played an important role as the smallest element in the development of the house. Planks were used to make the shuttering into which concrete was poured. This concrete then acquired the imprint of the planks. The same planks were also used for the façade, for the finishing of the roof, and for the interior walls. The surface was made coarser or smoother as required. The interior walls are coarse, but various types of finishing are applied. Sanding can smoothen the surface and restore the original colours to wood that becomes greyed. The hearth, kitchen block, staircase, toilet, bath, etc. are all realized to correspond with a plank width of 20 cm. The inside panelling was done by the clients themselves.Project gallerySee allShow lessRoyal Wedding Carriage / Reza EsmaeeliArticlesAD Round Up: Best from Flickr Part XLIVArticles Share “COPY” “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/131663/the-chimney-house-onix Clipboardlast_img read more

Blade House / Takt Studio

first_img “COPY” Houses Year:  Design Team:Brent Dunn, Katharina HendelEngineering:Northrop EngineeringCity:ColedaleCountry:AustraliaMore SpecsLess SpecsSave this picture!© Shantanu StarickText description provided by the architects. Between Escarpment and the Sea. Coledale, located between the Illawarra Escarpment and the Pacific Ocean, is an area undergoing gentle transformation, where miner’s cottages jostle with more recent homes. The brief asked to accommodate a creative family of four and to provide a smaller second dwelling to share the wonderful locale with extended family, friends and guests.Save this picture!© Shantanu StarickThis project is built on a constrained corner block, where a steep south facing slope, ocean views and solar access are all at odds with one another. In response, and drawing from the geological strata on this coastline, a new raised ground plane and elevated deck was developed, providing refuge and prospect for the occupants. Below this, the garage, storage areas and a second, smaller dwelling on the street corner are accommodated. Atop, sits the larger volume of the main house, running North – South, creating a courtyard with its eastern aspect toward the Tasman Sea.Save this picture!© Shantanu StarickAscent to the elevated podium, via a concrete stair under the transparent balcony, is similar to nearby ascents up the escarpment through the canopy of the rainforest. This platform invites landscape in and welcomes community; for the morning surf check, a casual wave to neighbours and sunset drinks. Afternoons are spent in the corner windows, reading and watching the sea. Friends drop in.Save this picture!Ground floor planGathering here is relaxed. Robust materials accept sandy feet and children playing. The West facade is composed of strong vertical blades, cranked to the North to collect sun and protect from afternoon heat, while the East facade guides views, and filters light through a transparent, planted verandah forming a close connection to changing light throughout the day. The project demonstrates how a dual occupancy development can relate intimately to its street and landscape location, while providing amenity and privacy for both dwellings.Save this picture!© Shantanu StarickFrom the street, the second, smaller dwelling, called the Jenga House due to its stacked timber facade, is articulated as separate volume from the home, to break down scale, and to enable it to stand with its own personality. Those stacked timber walls recall drying stacks in local timber yards, and erosion in nearby ocean cliffs. Their materiality is driven by an exploration of cheaper rough-sawn pine as external layer.Save this picture!Cross sectionThe main house and its layers of enclosure in hardwood relate to the tall forests and craggy cliffs of its escarpment backdrop, while its shell is sheeted in ubiquitous FC cladding. Materiality is influenced by both the landscape and the traditional local beach houses. A team of local makers enabled the exploration of materiality and detail specific to its particular environment and the owners, while the client was also a major contributor. In imagining the project, but also in taking on large parts of the building works they had a huge influence on the outcome.Save this picture!© Shantanu StarickDetailing is direct and simple; and material choices prefer the least expensive possible for the required performance. Basic construction materials were used as finished products – such as pine stacked timber walls and recycled concrete landscaping walls. The project utilises solar passive design principles in a unique way and seeks to maximise green space on a very tight site. Vertical facades and boundary walls are designed to support climbing plants over time.Save this picture!© Shantanu StarickNatural lighting throughout, and adaptable openings ensure cross ventilation when needed and a reduced energy footprint. Elements such as recycled concrete blocks made of waste from the concrete plant as boundary walls further reduce footprint. Under the escarpment, close to the sea, this new home and secondary dwelling explores landscape, light and a sense of community.Save this picture!© Shantanu StarickProject gallerySee allShow lessAtrium of Holy Angels Mausoleum / Harmer ArchitectureSelected ProjectsLMCC’s Arts Center / Pei Cobb Freed & PartnersSelected Projects Share Blade House / Takt Studio 2018 Save this picture!© Shantanu Starick+ 22Curated by Paula Pintos Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/927457/blade-house-takt-studio Clipboard “COPY” Blade House / Takt StudioSave this projectSaveBlade House / Takt Studio Projects ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/927457/blade-house-takt-studio Clipboard CopyHouses•Coledale, Australia ArchDaily Area:  282 m² Year Completion year of this architecture project Photographs Manufacturers: GRAPHISOFT, James Hardie Australia, AHJ, ROGER SELLER, TOVO Lighting, TossB, CSR Barestone, Forest Furniture, Obeco – La Rochere, Paiano Custom Kitchens Products translation missing: en-US.post.svg.material_description Australia Photographs:  Shantanu Starick Manufacturers Brands with products used in this architecture project Architects: Takt Studio Area Area of this architecture project CopyAbout this officeTakt StudioOfficeFollow#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesOn FacebookColedaleAustraliaPublished on October 31, 2019Cite: “Blade House / Takt Studio” 31 Oct 2019. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodSiding Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialMetal PanelsDri-DesignMetal Panels – CopperIn architectureSikaBuilding Envelope SystemsExterior DeckingLunawoodThermowood DeckingMembranesEffisusFaçade Protection – Breather+Metal PanelsPure + FreeFormCustom Metal Cladding – Legacy Fund 1 BuildingWood Boards / HPL PanelsInvestwoodWood Fiber Partition Walls – ValchromatDoorsLinvisibileLinvisibile FILO 10 Vertical Pivot Door | BrezzaSkylightsFAKROEnergy-efficient roof window FTT ThermoToilets / BidetsBritexToilets – Accessible Centurion PanMore products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my streamlast_img read more

Fleischmann Residence / PRODUCTORA

first_img 2017 “COPY” Save this picture!© Rory Gardiner+ 26Curated by Danae Santibañez Share ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/879462/fleischmann-residence-productora Clipboard Area:  220 m² Year Completion year of this architecture project Fleischmann Residence / PRODUCTORASave this projectSaveFleischmann Residence / PRODUCTORA CopyAbout this officePRODUCTORAOfficeFollowProductsWoodConcrete#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesLos AngelesIcebergUnited StatesPublished on November 15, 2019Cite: “Fleischmann Residence / PRODUCTORA” [Residencia Fleischmann / PRODUCTORA] 14 Nov 2019. ArchDaily. Accessed 10 Jun 2021. ISSN 0719-8884Browse the CatalogPanels / Prefabricated AssembliesTechnowoodSiding Façade SystemWindowsMitrexSolar WindowMetal PanelsAurubisPatinated Copper: Nordic Green/Blue/Turquoise/SpecialMetal PanelsDri-DesignMetal Panels – CopperIn architectureSikaBuilding Envelope SystemsExterior DeckingLunawoodThermowood DeckingMembranesEffisusFaçade Protection – Breather+Metal PanelsPure + FreeFormCustom Metal Cladding – Legacy Fund 1 BuildingWood Boards / HPL PanelsInvestwoodWood Fiber Partition Walls – ValchromatDoorsLinvisibileLinvisibile FILO 10 Vertical Pivot Door | BrezzaSkylightsFAKROEnergy-efficient roof window FTT ThermoToilets / BidetsBritexToilets – Accessible Centurion PanMore products »Save想阅读文章的中文版本吗?同一地点,两个时刻 Residencia Fleischmann / PRODUCTORA是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream Houses CopyHouses•Los Angeles, United States Year: center_img Projects Author Architects:Carlos Bedoya, Wonne Ickx, Víctor Jaime, Abel PerlesCollaborators:Juan Luis Rivera, Peter BoldtFormation Association Architecture:John ChanStructural Engineer:IDG Ingeniería Estructural; Farshid BehshidLandscape Design:Terremoto; David GodshallGreywater System:Greywater Corps; Leigh JerrardGeneral Contractor:Zorzoli Construction; Alex ZorzoliClient:Jessica FleischmannCity:Los AngelesCountry:United StatesMore SpecsLess SpecsSave this picture!© Rory GardinerRecommended ProductsWoodTechnowoodPergola SystemsWindowsKalwall®Facades – Window ReplacementsDoorsVEKADoors – VEKAMOTION 82WindowsOTTOSTUMM | MOGSWindow Systems – BronzoFinestra B40Text description provided by the architects. The project consists of a complete remodel and extension of a 1920’s bungalow on a sloped plot in the Echo Park area of Los Angeles. Although the existing building was an anonymous and generic tract home, we decided to maintain as much as we could its original character since we considered the typology interesting in relation to the site’s context and history.Save this picture!© Rory GardinerSave this picture!FacadesSave this picture!© Rory GardinerThe existing crawl space underneath the front of the house was further excavated to augment the total square footage of the property. Towards the back a steel moment frame was added to the house in order to create a transitional space that mediates between the house and the garden and protects the rear facade from the afternoon sun. In its interior, the new central staircase with a distinct saw-tooth profile, frankly connects the upper and lower level with each other. Save this picture!© Rory GardinerSave this picture!PlanSave this picture!© Rory GardinerThe new grid-like structure (painted in blue) and the existing bungalow (with siding and window framing rendered in a brown-pinkish taint) establish a strong contrast. They juxtapose two different moments in time: each one with its own constructive logic, material and color code. Four of the 6 cubic squares of this addition are covered terraces, while two are interior spaces incorporated into the kitchen area (lower level) and the master bedroom (upper level).Originally published on September 12, 2017Save this picture!© Rory GardinerProject gallerySee allShow lessMiyuan Boutique Hotel / JAXDASelected ProjectsMount Sinai Kyabirwa Surgical Facility / Kliment Halsband ArchitectsSelected Projects Share ArchDaily Architects: PRODUCTORA Area Area of this architecture project Fleischmann Residence / PRODUCTORA ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/879462/fleischmann-residence-productora Clipboard “COPY” United Stateslast_img read more

£1.5 million on offer in Northern Ireland for community services

first_img£1.5 million on offer in Northern Ireland for community services  26 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis The Office of the First Minister and deputy First Minister in Northern Ireland has announced the opening of a second round of funding applications under the ‘Contested Spaces’ Programme.The £1.5 million, which is being made available jointly by the Executive and Atlantic Philanthropies, will be spent on projects developed by local communities which create more spaces and services that are delivered on a shared basis.The successful applicants will join five projects which have already, collectively, been awarded £2.5 million to support work to build shared spaces in Belfast, Derry, Craigavon and Castlederg/Newtownstewart.In announcing the second phase of applications, the First Minister and deputy First Minister said that they were heartened by the initial round of funding applications and particularly encouraged rural communities and communities focusing on youth engagement programmes to apply for support on this occasion.www.northernireland.gov.uk Tagged with: Funding Ireland Howard Lake | 23 May 2012 | News About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.last_img read more

GST : Detention, Seizure And Release Of Goods & Conveyances In Transit Under Section 129 Of CGST Act

first_imgKnow the LawGST : Detention, Seizure And Release Of Goods & Conveyances In Transit Under Section 129 Of CGST Act Ammu Charles30 Aug 2020 1:19 AMShare This – x Section 129 of the Central Goods and Services Tax Act, 2017 (“CGST Act”) gives power of detention and seizure to the officers if a person transports any goods or stores any goods while they are in transit in contravention of the provisions of the Act or the rules. [1] The various stages of interception, detention and release of goods and conveyances under Section 129 are…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?Login Section 129 of the Central Goods and Services Tax Act, 2017 (“CGST Act”) gives power of detention and seizure to the officers if a person transports any goods or stores any goods while they are in transit in contravention of the provisions of the Act or the rules. [1] The various stages of interception, detention and release of goods and conveyances under Section 129 are as follows[2]: 1.Interception Upon interception of a conveyance, if the transporter fails to provide the documents asked for in verification, the proper officer shall: a.record statement of the person in charge of conveyance where the person in charge of the conveyance fails to produce any prescribed document or where the proper officer intends to undertake an inspection.[3] b.issue an order for physical verification and inspection of goods, conveyance or documents requiring the person in charge of the conveyance to station the conveyance at the place mentioned in such order and allow the inspection of the goods.[4] The inspection proceedings are to be completed within 3 working days from the date of issue of the order.c.obtain written permission[5], if more than three days is required for inspection.d.prepare a physical verification report[6] upon completion of proceedings and serve copy to person in charge of conveyance. 2.Release: If no discrepancies are found during the inspection and verification process, an order[7] shall be passed releasing the vehicle and goods. 3.Order of Detention and Issuance of Notice: However, if discrepancy is found, the officer may pass an order of detention[8] and issue a notice[9] as per Section 129 (3) and (4) specifying the tax and penalty payable after giving the person concerned an opportunity of being heard. 4.Provisional Release: As per Section 129(2), the provisions of section 67(6) shall, mutatis mutandis, apply for detention and seizure of goods and conveyances. Section 67(6) states that the goods seized under shall be released, on a provisional basis, upon execution of a bond[10] and furnishing of a security, in such manner and of such quantum, respectively, as may be prescribed or on payment of applicable tax, interest and penalty payable, as the case may be. Regarding release of goods, Section 129(1) states, the detained goods and conveyance shall be released, – (a) on payment of the applicable tax and penalty equal to one hundred per cent. of the tax payable on such goods and, in case of exempted goods, on payment of an amount equal to two per cent. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods comes forward for payment of such tax and penalty. (b) on payment of the applicable tax and penalty equal to the fifty per cent. of the value of the goods reduced by the tax amount paid thereon and, in case of exempted goods, on payment of an amount equal to five per cent. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods does not come forward for payment of such tax and penalty; (c) upon furnishing a security equivalent to the amount payable under clause (a) or clause (b) in such form and manner as may be prescribed. 5.Order for Payment: After hearing the party concerned, the officer is to pass a speaking order[11] quantifying the tax and penalty payable under clause (a) or clause (b) or clause (c) of Section 129. On payment of amount determined, all proceedings in respect of the notice is deemed to be concluded. 6.Initiation of Section 130[12] Proceedings: However, if there is failure to pay the amount of tax and penalty within fourteen days[13] of such detention or seizure, further proceedings shall be initiated in accordance with the provisions of section 130 such as issuance of notice[14] and order[15] for confiscation of goods and conveyance.[16] Where the detained or seized goods are perishable or hazardous in nature or are likely to depreciate in value with passage of time, the said period of seven days may be reduced by the proper officer. A.Constitutionality of Section 129 Unlike the erstwhile state sales tax laws which permitted detention in cases of attempted evasion of tax or omission of the subject transaction from the regular books of accounts, section 129 empowers the officers to detain goods and conveyance for acting in ‘contravention of the provisions’ of the Act or rules which means even procedural lapses can lead to detention. Further, under section 129 of the GST Acts the authorities need not establish intention to evade payment of tax which is a prerequisite for Section 130 of the GST Act. Suppose, A who is the owner of the goods was transporting certain goods worth Rs. 1,00,000, was intercepted under Section 129 for not having e-way bill. There can be various scenarios by which A can obtain release of goods under Section 129. Scenario I – Section 129(1)(a) A will have to make payment of tax and 100% penalty under Section 129 of the GST Act for release of the goods if he comes forward to make the payment as per Section 129(a). A will have to pay 18,000 (Tax calculated at 18%) + 18000 (100% penalty) = Rs. 36,000 for release of goods. Scenario II – Section 129(1)(b) If A does not come forward to make the payment, he will have to payment under Section 129(1)(b) which states that the goods shall be released on payment of tax and penalty equal to the 50% of the value of the goods reduced by the tax amount paid thereon. A will have to pay 18,000 (Tax calculated at 18%) + 50,000 (penalty equal to 50% of value of goods) = Rs. 68,000 for release of the goods. Scenario III – Section 129(1)(c) A also has the option of furnishing security of Rs, 36,000 or Rs. 68,000 as per Section 129(1)(c). Scenario IV If A does not make payment of tax and penalty within 14 days, as per Article 129(6), proceedings under Section 130 will be initiated. Besides being extremely onerous, it can be also extremely harsh if A had already paid tax as in the instant case and was detained only for lack of e-way bill as he will have to suffer tax again along with penalty for release of the goods. Several writ petitions have been filed throughout the country challenging the vires of the section such as Shan Mohammad Vs. Union of India & Ors.[17] B.Interplay of Section 129 and Section 130 It is stated in Section 126(6), if there is failure to pay the amount of tax and penalty within fourteen days of detention or seizure under the section, further proceedings shall be initiated in accordance with the provisions of section 130. Section 130 talks about confiscation of goods or conveyance and levy of tax, penalty and fine thereof. This raised many questions such as whether Section 129 and 130 can be simultaneously invoked. This question was extensively dealt with by the Gujarat High Court in Synergy Fertichem Pvt. Ltd. v. State of Gujarat[18]. The lead Petitioners in the case were inter-alia engaged in import and sale of ceramic pigment ink. They were the distributors of a Spanish group and had imported a consignment of ceramic pigment ink from their principal after filling bill of entry, payment of customs duty as well as the IGST payable on such imports before clearance for home consumption. As the goods were perishable, the Petitioners initiated transport of the ceramic ink without waiting for the e-way bill. However, the goods were intercepted due to absence of e-way bill. After interception the petitioners had generated e-way bill and explained that e-way bill was not generated earlier due to the extreme perishable nature of the goods and that IGST had already been suffered on the goods. However, the authorities insisted for payment of tax and 100% penalty under Section 129 of the GST Acts and also fine in lieu of confiscation equal to the value of goods under Section 130 of the GST Acts. Therefore, for goods worth Rs. 39,43,272/- on which customs duty of Rs. 3,00,526/- and IGST of Rs. 7,09,789/- have already been paid, authorities were demanding an amount of Rs. 60,72,639/-. This was challenged by the petitioners for being manifestly arbitrary and violative of Article 14 of the Constitution. It was also argued by the petitioners that as they had already paid tax, there was no intention to evade payment of tax which is essential for invoking Sections 129 and 130. It was held by the high court that Sections 129 and 130 of the GST Act are mutually exclusive and independent. It was noted by the court that both the sections start with a non-obstante clause and held that Section 130 of the Act is not dependent on Section 129(6) of the Act. As to whether both the sections can be simultaneously invoked, the court held that it is possible. It stated that at the time of detention and seizure of goods or conveyance, the first thing the authorities need to look into closely is the nature of the contravention of the provisions of the Act or the Rules. The second step in the process for the authorities to examine closely is whether such contravention of the provisions of the Act or the Rules was with an intent to evade the payment of tax. For the purpose of issuing a notice of confiscation under Section 130 of the Act at the threshold, i.e., at the stage of Section 129 of the Act itself, the case has to be of such a nature that on the face of the entire transaction, the authority concerned is convinced that the contravention was with a definite intent to evade payment of tax. Further, the court held that Section 130 of the Act can be invoked even in cases where the amount of tax and penalty is paid in terms of the provisions of Section 129. After laying down the general principles with regard to the applicability of Sections 129 and 130, the high court left it to the tax bench to decide about quashing of the confiscation notice. It is pertinent to note that Justice AC Rao, the puisne judge, expressed the view that the legislature should, once again, look into Sections 129 and 130 of the Act and amend the sections accordingly so as to remove certain inconsistencies in the two provisions. C.Court’s Interpretation of ‘contravention of the provisions’ of the Act or Rules Due to the wide ambit of the phrase ‘contravention of Act and rules’, the courts had been flooded with writ petitions filed by tax payers when their goods and conveyances were intercepted under Section 129. In order to ameliorate the situation the government had by Circular No. 64/38/2018-GST dated 14.9.2018 that in case of technical errors in the documents accompanying the goods, provisions of Section 129 of the GST Acts may not be resorted to but instead goods may be released on payment of nominal penalty under Section 125 of the GST Acts. However, in case a person in charge of a conveyance does not carry copy of statutorily required documents viz., invoice/bill of supply/delivery challan/bill of entry and valid e-way bill in physical or electronic form for verification or if the person in charge is carrying an invalid e-way bill, it would invite invocation of Section 129.[19] Some of the important decisions given by the high courts on challenge of action under Section 129 is discussed below. 1.Discrepancy in E-way Bill M.S Steel and Pipes v. Asst. State Tax Officer[20] In this case, the petitioner’s consignment was detained on the ground that there was a discrepancy in the e-way bill that accompanied the transportation of the goods. The alleged discrepancy was that while the consignment was supported by an invoice which contained the details of the goods transported as also the tax paid in respect of the goods, there was no mention of the tax amounts separately in the e-way bill that accompanied the goods. It was contended on behalf of the department that as per Section 33 of the GST Act, there is an obligation on every person, who makes supply for consideration and who is liable to pay tax for such supply, to prominently indicate in all documents relating to assessment, tax invoice and other like documents, the amount of tax which shall form part of the price at which such supply is made. The petitioner’s consignment was detained as the documents of the petitioner did not fully comply with Section 33 which in turn resulted in ‘contravention of the Act and Rules’ for the purposes of Section 129. It was noted by the court that a reading of the Rule 138(A) of GST Rules clearly indicate that the e-way bill has to be in FORM GST EWB-01, and in that format, there is no field wherein the transporter is required to indicate the tax amount payable in respect of the goods transported. Ruling in favour of the taxpayer, the Court held that there was no contravention by the petitioner of any provision of the Act or Rule for the purposes of Section 129. It was held that if the statutorily prescribed form does not contain a field for entering the details of the tax payable in the e-way bill, then the non-mentioning of the tax amount cannot be seen as an act in contravention of the rules. It was also noted that the tax invoice clearly revealed the tax amount. 2. Bonafide Misclassification of goods: Hindustan Coca Cola Pvt. Ltd. v. Asst. State Tax Officer, SGST Dept., Palakkad[21] In this case the petitioner was a company engaged in manufacture and supply of fruit-based beverages. The petitioner’s vehicles carrying fruit based drinks interstate were intercepted in Kerala on the premise that the goods were misclassified and shown to attract GST of 12% instead of 28%. Quashing the detention order, the Kerala High Court held that detention of goods in case of a bona fide dispute was not correct and if there was concern of misclassification then the squad officer may intercept the goods and detain them for the purpose of preparing the relevant papers for submission to the assessing authority and nothing beyond. 3.Wrong Invoice: Umiya Enterprise v. Assistant State Tax Officer, State Goods and Service Tax Department, Squad No. IV and Ors.[22] The petitioner is a dealer in plywood, particle boards and allied items. The petitioner’s supplier M/s. despatched plywood to the petitioner. However, the conveyance was intercepted alleging the defect that the element of tax happened to be wrongly shown as CGST and SGST @ 9% as against IGST of 18% in the tax invoice. However, the tax had been correctly declared as IGST in the E-way Bill. The writ petition was disposed of on the condition that the detained goods and vehicle shall be released on the petitioner executing a simple bond without insisting on furnishing of bank guarantee for the demanded value. 4.Undervaluation of goods: K.P. Sugandh Ltd. and Ors. v. State of Chhattisgarh and Ors.[23] The petitioners were the manufacturers of Pan Masala and Tobacco Products. The petitioners had dispatched goods to its customer at Raipur vide vehicle belonging to the another transporter. While the goods were being transported, the petitioners had issued with a tax invoice as well as e-way bill generated and handed the same to the driver. However, the vehicle and the goods were detained on the grounds of there being discrepancies in the valuation of the goods i.e. the price at which product was sold to the customer was not matching the MRP of the product. Allowing the writ petitions, the Chhattisgarh High Court held that, merely because the manufacturer sells his products to its customer or dealer at a price lower than the MRP, as such cannot be a ground on which the product or the vehicle could be seized or detained and that the Inspecting Authorities for the alleged discrepancy could have only intimated the Assessing Authority for initiating appropriate proceedings. (The author is an Advocate practising in Kochi, specializing in tax laws. She has also authored the book “E Commerce Laws : Law & Practice”(EBC, 2019). She may be reached at [email protected]) [1] Section 129 (1), “Notwithstanding anything contained in this Act, where any person transports any goods or stores any goods while they are in transit in contravention of the provisions of this Act or the rules made thereunder, all such goods and conveyance used as a means of transport for carrying the said goods and documents relating to such goods and conveyance shall be liable to detention or seizure and after detention or seizure, shall be released,– (a) on payment of the applicable tax and penalty equal to one hundred per cent. of the tax payable on such goods and, in case of exempted goods, on payment of an amount equal to two per cent. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods comes forward for payment of such tax and penalty; (b) on payment of the applicable tax and penalty equal to the fifty per cent. of the value of the goods reduced by the tax amount paid thereon and, in case of exempted goods, on payment of an amount equal to five per cent. of the value of goods or twenty-five thousand rupees, whichever is less, where the owner of the goods does not come forward for payment of such tax and penalty; (c) upon furnishing a security equivalent to the amount payable under clause (a) or clause (b) in such form and manner as may be prescribed: Provided that no such goods or conveyance shall be detained or seized without serving an order of detention or seizure on the person transporting the goods.” [2] Circular No. 41/15/2018-GST dated 13.04.2018. [3] Form GST MOV- 01 [4] Form GST MOV- 02 [5] Form GST MOV- 03 [6] Form GST MOV- 04 [7] Form GST MOV-05 [8] Form GST MOV- 06 [9] FORM GST MOV-07 [10] FORM GST MOV-08 [11] Form GST MOV- 09 [12] Section 130(1) states, ” Notwithstanding anything contained in this Act, if any person– (i) supplies or receives any goods in contravention of any of the provisions of this Act or the rules made thereunder with intent to evade payment of tax; or (ii) does not account for any goods on which he is liable to pay tax under this Act; or (iii) supplies any goods liable to tax under this Act without having applied for registration; or (iv) contravenes any of the provisions of this Act or the rules made thereunder with intent to evade payment of tax; or (v) uses any conveyance as a means of transport for carriage of goods in contravention of the provisions of this Act or the rules made thereunder unless the owner of the conveyance proves that it was so used without the knowledge or connivance of the owner himself his agent, if any, and the person in charge of the conveyance, then, all such goods or conveyances shall be liable to confiscation and the person shall be liable to penalty under section 122. [13] Substituted by the Central Goods and Services Tax (Amendment) Act, 2018 for “seven days”. [14] GST MOV-10 [15] GST MOV-11 [16] w.e.f. 01.02.2019 vide Notification No. 02/2019-Central Tax dated 29.01.2019. [17] Civil Writ Petition No. 26491/2018 (Rajasthan High Court) [18] MANU/GJ/3200/2019 [19] Section 68 of the CGST Act read with rule 138A of the CGST Rules requires that the person in charge of a conveyance carrying any consignment of goods of value exceeding Rs 50,000/- should carry a copy of documents viz., invoice/bill of supply/delivery challan/bill of entry and valid e-way bill in physical or electronic form for verification. The non-furnishing of information in Part B of FORM GST EWB-01 amounts to the e-way bill becoming not a valid document for the movement of goods by road as per Explanation (2) to rule 138(3) of the CGST Rules, except in the case where the goods are transported for a distance of upto fifty kilometres within the State or Union territory to or from the place of business of the transporter to the place of business of the consignor or the consignee, as the case may be. [20] 2020 SCC OnLine Ker 3214 [21] MANU/KE/1826/2020 ; Similar reasoning found in Daily Fresh Fruits India Private Limited v. Assistant State Tax Officer, Squared No. VII, State GST Department and Ors. MANU/KE/0818/2020 [22] MANU/KE/0281/2020 [23] MANU/CG/0297/2020 Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

Dog found dead after cross-country flight

first_imgiStock/Thinkstock(NEW YORK) — A dog on a cross-country flight was found dead in its cage upon arriving at its destination airport on Wednesday, according to the pet’s owners and the airline.“I want to know what happened,” said Michael Dellegrazie who with his girlfriend owned the Pomeranian named Alejandro. “The dog is not a pet. He’s a member of our family.”Alejandro was sent on a Delta Airlines flight from Phoenix to Newark, New Jersey, where the couple is moving. The dog traveled in a kennel in the cargo hold of the jet.“There was a stop in Detroit at approximately 6 o’clock in the morning,” said Dellegrazie’s attorney, Evan Oshan. “Alejandro was checked on. He was fine. Then approximately at 8 o’clock and 8:30 in the morning, the dog was again checked on, he was dead, and there was vomit in the cage, according to Delta,”In a statement to ABC News, Delta said, “We know pets are an important member of the family and we are focused on the well-being of all animals we transport. Delta is conducting a thorough review of the situation and have been working directly with Alejandro’s family to support them however we can. As part of that review, we want to find out more about why this may have occurred to ensure it doesn’t happen again and we have offered to have Alejandro evaluated by a veterinarian to learn more.”In 2017, 506,994 animals were transported on U.S. airlines, and of those, 24 died, according to Department of Transportation figures.One recent case that got a lot of attention was in March when a dog died on a United Airlines flight after it was put in its carrier into an overhead bin. The pet’s owners alleged that a flight attendant knew a dog was in the carrier when she told them to put it in the overhead bin. United said the attendant had not heard the passengers’ telling her about the dog. After the incident, United said it was starting a new policy of issuing bright-colored tags to passengers traveling with pets.Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Watching the Watchers | People Stuff

first_img Previous Article Next Article “I’m going to confess, right up front.  This blog post is a shameless plug for my new ebook on social media, written with that very nice Tim Scott, better known on Twitter as”Read full article Comments are closed. Related posts:No related photos. Watching the Watchers | People StuffShared from missc on 30 Apr 2015 in Personnel Todaylast_img

Mortgage applications dip for second straight week

first_img Share via Shortlink Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Contact Sasha Jones Housing MarketMortgagesResidential Real Estate Tags Message* Full Name* (Getty)A perfect storm of problems for home buyers — lack of inventory, high prices and bidding wars — may finally be putting pressure on mortgage applications.An index tracking those applications decreased 2.2 percent, seasonally adjusted, from one week earlier, according to the Mortgage Bankers Association. It’s the second week in a row that applications dipped. Mortgage rates, meanwhile, have been rising steadily for seven consecutive weeks.“Many prospective homebuyers this spring are feeling the effects of higher rates and rapidlyaccelerating home prices,” Joel Kan, MBA’s associate vice president of economic and industry forecasting, said in a statement. “The housing market is in desperate need of more inventory to cool price growth and preserve affordability.”ADVERTISEMENTSimilarly, the refinance index decreased 3 percent from the previous week and was 32 percent lower than the same week one year ago. Refinancings made up nearly 61 percent of total applications. The average refinancing loan size was $275,000, a dip from last week’s $284,200.“Higher mortgage rates continue to shut down refinance activity, as the pool of borrowerswho can benefit from a refinance further shrinks,” Kan added.The average purchase loan size dropped to $401,400, from $409,300. Loan sizes had been steadily decreasing until last week, when that figure rose by nearly 4 percent.The average contract interest rate for 30-year fixed-rate mortgages decreased to 3.33 percent from 3.36 percent. Jumbo loans also saw a dip, from 3.40 percent to 3.34 percent.MBA’s survey covers 75 percent of the residential mortgage market and has been conducted weekly since 1990.Read moreMortgage applications slow but no end in sight to buying boomUS home price growth hits 15-year highHome prices across globe hit records, prompting worries of bubble Email Address*last_img read more